IVA (Individual Voluntary Arrangement)

Last updated: 29th August 2013

An IVA (Individual Voluntary Arrangement) is an agreement whereby you pay your creditors a set amount each month that you can afford, the rest of the debt is written off. It's most appropriate for those who have debts of more than £10,000 and cannot afford to meet repayments, who see missed payment charges incurred, interest increasing and their debt spiralling. However, our Debt Free Direct advisors will be able to shed more light on this and discuss whether it is the right option for you.

We have helped many people cope with their bankruptcy or debt problems and we can tell you, without obligation, how best to get on a stable financial footing.

Figures currently show that people in the UK have an average debt of £27,871.13 and no matter how much you are struggling, Debt Free Direct can help.

What is an IVA?

What is an IVA

An IVA is a legally binding agreement between you and your creditors to lower your repayments, freeze interest and reduce creditor chasing.

How an IVA works

How an IVA works

Find out how you could be on the road to controlling your unsecured debt with an IVA.

Is an IVA right for me?

Is an IVA right for me

There are a number of criteria you must meet before you take out an IVA. Discover here if you meet the qualifying criteria.

IVA fees

IVA fees

Our fees for setting up and managing your IVA are agreed with your creditors and adhere to IVA protocol.